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Infranord (I) investor relations material
Infranord Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Strong order intake and improved operating profit in Q2, with net sales rising to 1,539 MSEK from 1,428 MSEK year-over-year.
Several key contracts won, including the return of the Västra Stambanan maintenance contract and three new contracts from Trafikverket totaling 681 MSEK.
A serious workplace accident occurred in Malmö in April, resulting in one fatality and one injury; safety measures are being reinforced.
Ongoing industry-wide challenge with a shortage of railway technicians, with a projected deficit of 3,900 employees by 2028.
Financial highlights
Q2 order intake: 1,774 MSEK (1,455 MSEK in Q2 2024); net sales: 1,539 MSEK (1,428 MSEK); operating profit: 41 MSEK (8 MSEK); net profit: 24 MSEK (2 MSEK).
H1 order intake: 3,142 MSEK (3,527 MSEK in H1 2024); net sales: 2,555 MSEK (2,379 MSEK); operating loss: -35 MSEK (-52 MSEK); net loss: -46 MSEK (-49 MSEK).
Q2 operating margin: 2.7% (0.6%); H1 operating margin: -1.4% (-2.2%).
Cash flow from operations: Q2 -282 MSEK (-99 MSEK); H1 -305 MSEK (37 MSEK).
Outlook and guidance
Swedish infrastructure budget for 2026–2037 increased, with 210 billion SEK allocated to rail, supporting future opportunities.
Market for new projects in 2025 expected to remain at 2024 levels, with 4–5 major procurements.
Norwegian market stable, with increased focus on maintenance and renewal over new construction.
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